Five Elms Capital doubles down on RFP360, bringing its investment to $12M
March 16, 2020 | Startland News Staff
RFP360 proved its worth and ability to push itself in the months following Five Elms Capital’s first investment in the software platform, said Thomas Kershisnik.
RFP360’s elevator pitch: We develop software solutions that transform how organizations worldwide request information, respond to requests and connect — making the RFP and proposal process far more efficient, effective, collaborative, consistent and repeatable for everyone. Our complete approach covers every angle, from knowledge management and response automation to request development and vendor evaluation.
The payoff? Five Elms today announced a second strategic growth investment in RFP360 — bringing its total backing of the Leawood-based startup to $12 million, said Kershisnik, managing director at Five Elms Capital.
“It’s clear that RFP360 truly understands an underserved market, offering a unique platform that creates value for all sides of the process — groups that issue RFPs and other information requests and teams whose job it is to respond,” he said. “We are excited to continue to partner with them and be a part of their growth.”
Click here to check out the firms on Startland News list of Kansas City’s Top Venture Capital-Backed Companies in 2019.
RFP360, plans to use the funds to support ongoing expansion of the product development, marketing and sales teams.
The investment comes a year after the first round of funding from Five Elms, a leading growth investor in founder-owned software businesses, which came in conjunction with the hiring of David Lintz as chief executive officer.
In 2019, RFP360 also expanded its executive leadership team by adding Beau Wysong as chief marketing officer and most recently Ryan Townsend — co-founder and former CTO of PayIt — as chief technology officer, as well as moving its global headquarters to Leawood after more than doubling its headcount.
David Lintz, RFP360
Click here to read more about RFP360’s acceleration.
“We experienced a tremendous amount of growth in the last year from both a personnel and product standpoint,” Lintz said. “The additional investment from Five Elms will allow us to accelerate our growth and success in 2020 while continuing to disrupt the industry.”
RFP360 — founded by David Hulsen and Stuart Ludlow and previously known as RFP365 — was named one of Startland News’ Kansas City Startups to Watch in 2018.
Featured Business
2020 Startups to Watch
stats here
Related Posts on Startland News
Advocate knocks mayor for Troost renaming delay; calls slave owner tie KC’s ‘dirty laundry, reeking from the basement’
Kansas City can no longer whitewash its history to pretend Benoist Troost — an early KC doctor, slave owner and the namesake for Troost Avenue — was anything other than a monster, said Chris Goode, pointing blame at Mayor Quinton Lucas for a stalled effort to change the east side corridor’s controversial name. “There’s no…
C3KC organizers: Want to bring real social change to Kansas City? Let’s talk about it
The sold-out C3KC — a one-day conference that returns Tuesday, April 2 to Union Station — reflects the Junior League of Kansas City’s mission to bring together leaders for collaborative change in action, shared Ericka Duker. The Junior League — which aims to advance women’s leadership for meaningful community impact through volunteer action, collaboration and…
Passing the keys, passion: How a new wave of small biz owners plan to preserve beloved local brands
Some have been customers; some employees. Now they’re the new owners of popular local restaurants and retail shops. As founders step aside, fresh sets of entrepreneurs step up in hopes of carrying on the goodwill and loyal following these brands have built up, some for decades. John McClelland and his brother-in-law, Johnathan Griffiths, work together…
Topping expectations: These brothers helped expand Pizza Tascio to 8 locations; now they’re taking over
Erik Borger hired all three Lombardino brothers in their teens, starting them out as dishwashers at his restaurants in St. Joseph, Missouri. They quickly took on other positions — front of house, staff scheduling, food and beverage orders and deliveries, and hiring and firing workers. If an employee didn’t show up for a shift, they…